MOSCOW, July 30. /TASS/. The board of directors of Yandex will consider the payment of dividends, the company reported.

"The Board of Directors will consider the payment of the first dividend in the amount of 80 rubles per ordinary share," the report said.

Considering necessary corporate procedures, dividends, in the event of the board’s positive decision approved subsequently by the meeting of shareholders, will be paid no later than the end of October 2024, according to the report.

The company believes that in the future it will be able to pay dividends every six months with respective recommendations of the board of directors.

Yandex has not paid dividends since its IPO in 2011. The dynamics of financial results, the demand for investments for ensuring future growth and the amount of debt are behind the company’s current payout plans.